UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
AMERICAN RESIDENTIAL INVESTMENT TRUST, INC.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
02926T103
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(CUSIP Number)
Noah Klarish & Associates, P.C.
One World Trade Center, 85th Floor
New York, NY 10048
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
October 28, 1999
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|
Check the following box if a fee is being paid with the statement |_|. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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SCHEDULE 13D
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CUSIP No. 02629T103 Page 2 of 8 Pages
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1 NAMES OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Aletheia Research and Management, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
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7 SOLE VOTING POWER
7,000 shares held by Aletheia Metron, L.P. over which
the Reporting Person has voting power.
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------------
EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 7,000 shares held by Aletheia Metron, L.P. over which
the Reporting Person has Dispositive power.
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,000
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.09%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1. Security and Issuer.
This statement relates to the Common Stock, $.01 par value per share
(the "Common Stock"), of American Residential Investment Trust, Inc., a Maryland
corporation (the "Issuer"). The Issuer maintains its principal executive office
at 445 Marine View Avenue, Suite 230, Del Mar, CA 92014.
Item 2. Identity and Background.
(a) This statement is filed by Aletheia Research and Management,
Inc., a California corporation ("Aletheia Research and Management"), with
respect to (i) shares of the Issuer's Common Stock held in investment accounts
over which Aletheia Research and Management has dispositive authority, (ii)
shares of the Issuer's Common Stock held by Aletheia Hyperion, L.P., a Delaware
limited partnership ("Aletheia Hyperion") for whom Aletheia Research and
Management acts as general partner, (iii) shares of the Issuer's Common Stock
held by Aletheia Metron, L.P., a Delaware limited partnership ("Aletheia
Metron") for whom Aletheia Research and Management acts as general partner, and
(iv) shares of the Issuer's Common Stock held by Aletheia Aristos, L.P., a
Delaware limited partnership ("Aletheia Aristos") for whom Aletheia Research and
Management acts as general partner. Aletheia Research and Management shall
sometimes be referred to herein as the "Reporting Person."
(b) The Reporting Person filed an initial Schedule 13D for an event
of May 26, 1999 (the "Initial Schedule") and an amendment No. 1 for an event of
October 15, 1999 (the "Prior Amendment"). Except to the extent set forth in this
amendment, the information in the Initial Schedule and the Prior Amendment
remains unchanged.
Item 3. Source and Amount of Funds or Other Consideration.
The Reporting Person beneficially owns 7,000 shares of the Issuer's
Common Stock through Aletheia Metron, L.P. of which the Reporting Person serves
as general partner. The cost of 40,437.60 for such shares was paid from Aletheia
Metron, L.P.'s investment capital.
Item 5. Interest in Securities of the Issuer.
(a) The number of shares of the Issuer's Common Stock and the
percentage of the outstanding shares (based upon 8,055,500 shares outstanding as
reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended
June 30, 1999) directly beneficially owned by the Reporting Person is as
follows:
Percentage of
Name Number of Shares Outstanding Shares
- ---- ---------------- ------------------
Aletheia Metron 7,000 0.09%
3
<PAGE>
(b) The Reporting Person has sole power to vote 7,000 shares of the
Issuer's Common Stock and power to dispose or to direct the disposition of 7,000
shares of the Issuer's Common Stock.
(c) See Appendix A annexed hereto.
Signatures
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: December 6, 1999
ALETHEIA RESEARCH AND MANAGEMENT, INC.
By: /s/ Peter J. Eichler
---------------------------------------------
Peter J. Eichler, Chief Executive Officer
4
<PAGE>
APPENDIX 1
TRANSACTIONS IN AMERICAN RESIDENTIAL INVESTMENT TRUST, INC.
COMMON STOCK WITHIN THE
PAST 60 DAYS
All transactions were open market sales (unless otherwise noted) and the
commissions are included in the price of the shares.
Summary of
Trades for
Aletheia Hyperion
BUY/SELL DATE SHARES PRICE TOTAL
-------- ---- ------ ----- -----
S 10-21-99 1,000 7.1831 7,183.06
S 10-21-99 1,000 7.1831 7,183.06
S 10-21-99 2,000 7.1831 14,366.12
S 10-21-99 1,000 7.1831 7,183.06
S 10-21-99 3,000 7.1831 21,549.18
S 10-21-99 2,000 7.1831 14,366.12
S 10-21-99 2,200 7.1831 15,802.73
S 10-21-99 3,000 7.1831 21,549.17
S 10-21-99 1,600 7.1831 11,492.89
S 10-21-99 3,000 7.1831 21,549.18
S 10-21-99 5,000 7.1831 35,915.29
S 10-21-99 2,000 7.1831 14,366.12
S 10-21-99 200 7.1831 1,436.61
S 10-27-99 1,000 7.2643 7,264.26
S 10-27-99 2,000 7.2643 14,528.51
S 10-27-99 2,000 7.2643 14,528.51
S 10-27-99 2,000 7.2643 14,528.51
S 10-27-99 1,000 7.2643 7,264.26
S 10-27-99 1,000 7.2643 7,264.26
S 10-27-99 2,000 7.2643 14,528.51
S 10-27-99 3,000 7.2643 21,792.77
S 10-27-99 1,000 7.2643 7,264.25
-----
Net Shares 42,000 Net Sales
Sold Proceeds $302,906.43
5
<PAGE>
Summary of
Trades for
Aletheia Metron
BUY/SELL DATE SHARES PRICE TOTAL
-------- ---- ------ ----- -----
S 10-21-99 200 7.1831 1,436.61
S 10-21-99 800 7.1831 5,746.45
S 10-21-99 1,000 7.1831 7,183.06
S 10-21-99 2,000 7.1831 14,366.12
S 10-21-99 1,000 7.1831 7,183.06
S 10-21-99 1,000 7.1831 7,183.06
S 10-21-99 1,000 7.1831 7,183.06
S 10-21-99 1,000 7.1831 7,183.06
S 10-21-99 1,000 7.1831 7,183.06
S 10-21-99 1,000 7.1831 7,183.06
S 10-21-99 8,000 7.1831 57,464.46
S 10-28-99 2,000 6.5710 13,141.96
S 10-28-99 5,000 6.5710 32,854.89
S 10-28-99 5,000 6.5710 32,854.90
S 10-28-99 2,000 6.5710 13,141.96
S 10-28-99 800 6.5710 5,256.78
S 11-02-99 3,200 6.9037 22,091.73
S 11-02-99 2,000 6.9037 13,807.34
S 11-02-99 1,800 6.9037 12,426.60
S 11-08-99 200 6.3930 1,278.60
S 11-08-99 2,000 6.3930 12,785.97
S 11-08-99 2,800 6.3930 17,900.35
B 11-15-99 4,000 6.6438 26,575.20
S 11-18-99 1,000 5.9240 5,924.00
S 11-18-99 1,000 5.9230 5,923.00
S 11-18-99 2,000 5.9235 11,847.00
S 11-18-99 4,000 5.9235 23,694.00
B 12-01-99 7,000 5.7768 40,437.60
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Net Shares 41,800 $287,211.34
Sold
6
<PAGE>
Summary of
Trades for
Aletheia Aristos
BUY/SELL DATE SHARES PRICE TOTAL
-------- ---- ------ ----- -----
B 11-15-99 4,000 6.6438 26,575.20
S 11-18-99 4,000 5.9235 23,694.00
----- ----------
Net Shares
Sold 0 -$2,881.20
Summary of Trades
for Accounts over
which the
Reporting Person
has Dispositive
Authority
BUY/SELL DATE SHARES PRICE TOTAL
-------- ---- ------ ----- -----
S 10-26-99 24,000 7.2891 174,938.40
S 10-27-99 1,000 7.3145 7,314.50
S 10-28-99 21,300 6.6212 141,031.56
S 10-29-99 56,000 6.2824 351,814.40
S 11-01-99 56,070 6.5490 367,202.43
S 11-02-99 12,000 6.9539 83,446.80
S 11-05-99 6,000 6.7292 40,375.20
S 11-08-99 6,000 6.4432 38,659.20
S 11-09-99 10,000 6.5625 65,625.00
S 11-10-99 26,000 6.3173 164,249.80
S 11-11-99 600 6.2500 3,750.00
S 11-11-99 16,000 6.2695 100,312.00
S 11-12-99 34,000 6.1857 210,313.80
S 11-15-99 10,050 6.4789 65,112.95
S 11-16-99 1,500 6.5625 9,843.75
S 11-17-99 22,000 6.0966 134,125.20
S 11-18-99 7,000 5.9737 41,815.90
S 11-19-99 4,000 5.8750 23,500.00
S 11-19-99 200 5.9375 1,187.50
<PAGE>
S 11-22-99 17,000 5.7316 97,437.20
S 11-23-99 29,362 5.7393 168,517.33
S 11-24-99 2,000 5.5625 11,125.00
S 11-24-99 1,400 5.6250 7,875.00
S 11-29-99 23,600 5.5938 132,013.68
S 11-30-99 11,600 5.3595 62,170.20
S 12-01-99 7,600 5.4836 41,675.36
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Net Shares Net Sales
Sold 406,282 Proceeds $2,545,431.80
8
